Ferrari completes €250M buyback, sets new €250M round
Rhea-AI Filing Summary
Ferrari N.V. (RACE) reports completion of the Second Tranche of its multi-year share buyback program and announces a Third Tranche. Under the €250 million Second Tranche, Ferrari repurchased 655,884 common shares on EXM for €199,999,777.22 and 159,855 shares on NYSE for $58,001,993.62 (about €49,999,442.96).
As of August 28, 2026 Ferrari held 1,590,804 treasury common shares, equal to 0.90% of issued common shares, or 0.68% including special voting shares. Since January 5, 2026 the company has repurchased 1,701,184 shares for €510,757,305.21. A Third Tranche of up to €250 million will start September 2, 2026, with €200 million to be executed on EXM under a non-discretionary agreement and up to €50 million on NYSE under a separate mandate.
Positive
- None.
Negative
- None.
Filing Explained
Ferrari has finished the Second Tranche; a further, cash-funded buyback of up to €250 million is authorized, not yet completed.
Ferrari reports that the Second Tranche is complete and sets up a Third Tranche due to start on
As a Form 6-K, this is a foreign private issuer’s interim report furnishing material information published in its home market. The Third Tranche has a non-discretionary EXM component of up to
Shares repurchased under the completed Second Tranche may be used for obligations under Ferrari’s equity incentive plan. The filing therefore describes both available repurchase capacity and a possible treasury-share use, not a new issuance or cash proceeds event.
The next milestone is the expected end of the Third Tranche no later than
Key Figures
Second Tranche EXM repurchases: 655,884 common shares for €199,999,777.22
Second Tranche NYSE repurchases: 159,855 common shares for $58,001,993.62 (≈€49,999,442.96)
Total multi-year program purchases to date: 1,701,184 common shares for €510,757,305.21
+5 more
8 metrics
Second Tranche EXM repurchases
655,884 common shares for €199,999,777.22
Total shares and consideration on Euronext Milan under the Second Tranche
Second Tranche NYSE repurchases
159,855 common shares for $58,001,993.62 (≈€49,999,442.96)
Total shares and consideration on NYSE under the Second Tranche
Total multi-year program purchases to date
1,701,184 common shares for €510,757,305.21
From January 5, 2026 to August 28, 2026 on EXM and NYSE
Treasury shares as of August 28, 2026
1,590,804 common shares (0.90% of issued common shares)
Treasury position net of equity incentive plan assignments
Treasury including special voting shares
0.68% of total issued share capital
Treasury holding percentage when including special voting shares
Planned Third Tranche size
Up to €250 million
Buyback tranche starting September 2, 2026, ending no later than December 16, 2026
Third Tranche EXM component
Up to €200 million
Non-discretionary buyback agreement with a primary financial institution on EXM
Third Tranche NYSE component
Up to €50 million
Additional mandate with a financial institution to repurchase shares on NYSE
Key Terms
multi-year share buyback program, special voting shares, non-discretionary buyback agreement, Market Abuse Regulation 596/2014, +1 more
5 terms
non-discretionary buyback agreement financial
"Ferrari has entered into a non-discretionary buyback agreement for up to Euro 200 million"
A non-discretionary buyback agreement is a legally binding promise by a company to repurchase a set amount of its own shares under predefined terms, rather than an optional or ad hoc decision. Think of it like a standing order to buy back stock that will reduce the number of shares outstanding, which can boost per-share metrics and signal support for the share price, but also commits cash and affects the company’s balance sheet and flexibility.
Market Abuse Regulation 596/2014 regulatory
"in accordance with the provisions of the Market Abuse Regulation 596/2014"
Regulation 596/2014, known as the Market Abuse Regulation, is the European rulebook that bans insider trading and market manipulation and requires timely public disclosure of crucial company information. It matters to investors because it helps keep prices fair and trustworthy—like rules that stop players from cheating in a game—by forcing companies and insiders to be transparent and making unlawful trading easier to detect and punish.
Commission Delegated Regulation (EU) 2016/1052 regulatory
"and the Commission Delegated Regulation (EU) 2016/1052 (the “Regulations”)"
FAQ
What did Ferrari N.V. (RACE) announce regarding its Second Tranche buyback?
Ferrari announced it completed the Second Tranche of its multi-year buyback, repurchasing 655,884 shares on EXM for €199,999,777.22 and 159,855 shares on NYSE for $58,001,993.62, equivalent to about €49,999,442.96.
What has Ferrari (RACE) spent on buybacks since January 5, 2026?
Since January 5, 2026 Ferrari has repurchased a total of 1,701,184 common shares on EXM and NYSE, including Sell to Cover transactions, for aggregate consideration of €510,757,305.21.
What are the key terms of Ferrari’s Third Tranche buyback program?
Ferrari plans a Third Tranche of up to €250 million starting September 2, 2026 and ending no later than December 16, 2026, funded from available cash, with €200 million on EXM under a non-discretionary agreement and up to €50 million on NYSE.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________
FORM 6-K
_______________________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File No. 001-37596
_______________________________
FERRARI N.V.
(Translation of Registrant’s Name Into English)
_______________________________
Via Abetone Inferiore n.4
I-41053 Maranello (MO)
Italy
Tel. No.: +39 0536 949111
(Address of Principal Executive Offices)
_______________________________
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F x Form 40-F o
The following exhibit is furnished herewith:
Exhibit 99.1 Press release issued by Ferrari N.V. dated September 1, 2026.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: September 1, 2026 | FERRARI N.V. | ||||||||||
| By: | /s/ Antonio Picca Piccon | ||||||||||
| Name: | Antonio Picca Piccon | ||||||||||
| Title: | Chief Financial Officer | ||||||||||
Index of Exhibits
Exhibit
Number Description of Exhibit
99.1 Press release issued by Ferrari N.V. dated September 1, 2026.
Exhibit 99.1
FERRARI N.V.: COMPLETION OF THE SECOND TRANCHE AND ANNOUNCEMENT OF THE THIRD TRANCHE OF THE MULTI-YEAR SHARE REPURCHASE PROGRAM
Maranello (Italy), September 1 2026 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 250 million share buyback program announced on April 10, 2026, as the second tranche of the multi-year share buyback program of approximately Euro 3.5 billion expected to be executed by 2030 in line with the disclosure made during the 2025 Capital Markets Day (the “Second Tranche”), the additional common shares - reported in aggregate form, on a daily basis - on the Euronext Milan (EXM) and on the New York Stock Exchange (NYSE) as follows:
EXM | NYSE | Total | ||||||||||||||||||||||||||||||
| Trading Date (d/m/y) | Number of common shares purchased | Average price per share excluding fees (€) | Consideration excluding fees (€) | Number of common shares purchased | Average price per share excluding fees ($) | Consideration excluding fees ($) | Consideration excluding fees (€)* | Number of common shares purchased | Average price per share excluding fees (€)* | Consideration excluding fees (€)* | ||||||||||||||||||||||
| 26/08/2026 | 19,000 | 358.5439 | 6,812,334.10 | 21,734 | 414.0844 | 8,999,710.35 | 7,712,494.94 | 40,734 | 356.5775 | 14,524,829.04 | ||||||||||||||||||||||
| 27/08/2026 | 9,500 | 354.6650 | 3,369,317.50 | 19,802 | 414.3383 | 8,204,727.02 | 7,045,708.04 | 29,302 | 355.4374 | 10,415,025.54 | ||||||||||||||||||||||
| 28/08/2026 | 6,707 | 361.5601 | 2,424,983.59 | — | — | — | — | 6,707 | 361.5601 | 2,424,983.59 | ||||||||||||||||||||||
| Total | 35,207 | 358.0718 | 12,606,635.19 | 41,536 | 414.2054 | 17,204,437.37 | 14,758,202.99 | 76,743 | 356.5776 | 27,364,838.18 | ||||||||||||||||||||||
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
With the purchases described above the Company has completed the Second Tranche.
The total consideration for such Second Tranche was:
•Euro 199,999,777.22 for No. 655,884 common shares purchased on the EXM
•USD 58,001,993.62 (Euro 49,999,442.96*) for No. 159,855 common shares purchased on the NYSE.
As of August 28, 2026 the Company held in treasury No. 1,590,804 common shares, net of shares assigned under the Company’s equity incentive plan, corresponding to 0.90% of the then total issued common shares. Including the special voting shares, the Company held in treasury 0.68% of the then total issued share capital.
Ferrari N.V. Amsterdam, The Netherlands | Registered Office: Via Abetone Inferiore N. 4, I – 41053 Maranello (MO) Italy | Dutch trade registration number: 64060977 |  | ||||||||
Since January 5, 2026, start date of the multi-year share buyback program of approximately Euro 3.5 billion announced during the 2025 Capital Markets Day, until August 28, 2026, the Company has purchased a total of 1,701,184 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 510,757,305.21.
The Company intends to continue its multi-year share buyback program with a third tranche of up to Euro 250 million (the “Third Tranche”) due to start on September 2, 2026 and expected to end no later than December 16, 2026.
The Third Tranche will be funded through the Company’s available cash, and common shares repurchased under the Second Tranche may be used to meet the obligations arising from the Company’s equity incentive plan.
The Third Tranche has two components.
Firstly, Ferrari has entered into a non-discretionary buyback agreement for up to Euro 200 million to be executed on the EXM market through a primary financial institution (the “Bank”). The Bank will make its trading decisions concerning the timing of the purchases of Ferrari’s common shares independently of and uninfluenced by Ferrari and it will act in compliance with applicable rules and regulations as well as in accordance with the provisions of the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 (the “Regulations”). Under this agreement purchases may continue during any closed periods of Ferrari in accordance with the Regulations.
Secondly, Ferrari has entered into an additional mandate with a primary financial institution for up to Euro 50 million to be executed on the NYSE. Pursuant to such mandate Ferrari would provide the financial institution with purchase instructions from time to time in compliance with applicable rules, regulations and legal requirements. The actual timing, number and value of common shares repurchased on the NYSE will depend on a number of factors, including market and general business conditions.
The Third Tranche implements the resolution adopted by the Shareholders’ Meeting (held on April 15, 2026) and duly communicated to the market, which authorized the purchase of up to 10% of the Company’s common shares during the eighteen-month period following such Shareholders’ Meeting. The repurchase authority will expire on October 14, 2027, unless extended or renewed before such date.
Details of the repurchase transactions carried out under the Third Tranche will be disclosed to the market as required by applicable regulation.
2
A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (https://www.ferrari.com/en-EN/corporate/buyback-programs).
About Ferrari
Ferrari is one of the world’s leading luxury brands, encompassing racing, sports cars and lifestyle. In each of these three souls, the Prancing Horse is a symbol of exclusivity, innovation and cutting-edge performance. The brand’s heritage and global recognition are closely associated with its Formula 1 racing team, Scuderia Ferrari, the most successful in the sport’s history. Since the inaugural World Championship in 1950, Scuderia Ferrari has claimed 16 Constructors’ and 15 Drivers’ world titles. From its home in Maranello, Italy, Ferrari designs, engineers, and produces some of the world’s most iconic and recognisable luxury sports cars, sold in over 60 markets worldwide. In lifestyle, Ferrari designs and creates a selection of personal luxury goods, collectibles and experiences that embody the brand’s elevated style and passion.
Forward Looking Statements
In this document, unless otherwise specified, the terms “we”, “our”, “us”, the “Group”, the “Company” and “Ferrari” refer to Ferrari N.V., individually or together with its subsidiaries, as the context may require. This document, and in particular the section entitled “2026 Guidance”, contain forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “continue”, “on track”, “successful”, “grow”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, “guidance” and similar expressions. Forward-looking statements are not guarantees of future performance. Rather, they are based on the Group’s current expectations and projections about future events and, by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, including: our ability to preserve and enhance the value of the Ferrari brand; our ability to attract and retain qualified personnel; the success of our racing activities; our ability to keep up with advances in high performance car technology, to meet the challenges and costs of integrating electric technology more broadly into our car portfolio over time and to make appealing designs for our new models; increases in costs, including as a result of increasingly stringent fuel economy, emissions and safety standards, disruptions of supply or shortages of components and raw materials; our ability to successfully carry out our controlled volume and growth strategy, while increasing our presence in growth market countries; changes in general economic conditions (including changes in the markets in which we operate) and changes in demand for luxury goods, including high performance luxury cars, which is volatile; macro events, pandemics and conflicts, including the ongoing conflicts in Ukraine and the Middle East region, and the related issues potentially impacting sourcing and transportation; trading policies and tariffs; competition in the luxury performance automobile industry; changes in client preferences and automotive trends; our ability to preserve the value of our cars over time and our relationship with the automobile collector and enthusiast
3
community; disruptions at our manufacturing facilities in Maranello and Modena; climate change and other environmental impacts, as well as an increased focus of regulators and stakeholders on environmental matters; our ability to maintain the functional and efficient operation of our information technology systems and to defend against the risk of cyberattacks; the ability of our current management team to operate and manage effectively, and the reliance upon a number of key members of executive management and employees; the performance of our dealer network on which we depend for sales and services; product warranties, product recalls and liability claims; the sponsorship and commercial revenues and expenses of our racing activities, as well as the popularity of motor sports more broadly; the performance of our lifestyle activities; our ability to protect our intellectual property rights and to avoid infringing the intellectual property rights of others; changes in tax or fiscal policies and regulatory, political and labor conditions in the jurisdictions in which we operate; our continued compliance with customs regulations of various jurisdictions; labor relations and collective bargaining agreements; our ability to ensure that our employees, agents and representatives comply with applicable law and regulations; exchange rate fluctuations, interest rate changes, credit risk and other market risks; our ability to service and refinance our debt; our ability to provide or arrange for adequate access to financing for our clients and dealers, and associated risks; the adequacy of our insurance coverage to protect us against potential losses; potential conflicts of interest due to director and officer overlaps with our largest shareholders, and other factors discussed elsewhere in this document.
The Group expressly disclaims and does not assume any liability in connection with any inaccuracies in any of the forward-looking statements in this document or in connection with any use by any third party of such forward-looking statements. Any forward-looking statements contained in this document speak only as of the date of this document and the Company does not undertake any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its businesses, including factors that could materially affect the Company’s financial results, is included in the Company’s reports and filings with the U.S. Securities and Exchange Commission, the AFM and CONSOB.
For further information:
Ferrari Media & PR
Email: media@ferrari.com
4